Save Article

Fortune Editor Alan Murray, left, talked with Lawrence H. Summers, professor and president emeritus at Harvard University at the Consensus 2016 blockchain conference in New York City, May 3, 2016.

Kim S. Nash/WSJ

“We have in the last generation had a lot of financial innovation for the benefit of money,” said Mr. Summers Tuesday at a blockchain event in New York. “I think it’s a good idea to have financial innovation for the benefit of people in the form of lower costs.”

Content from our sponsorDeloitteCIO Insights and Analysis from Deloitte

Initial coin offerings could provide venture capitalists and individuals alike with new ways to fund the development of startups that are building open protocols, which could attract the interest of today’s largest internet companies, says Brian Forde, a senior lecturer at the MIT Sloan School of Management and former White House senior adviser for mobile and data innovation.

Please note: The Wall Street Journal News Department was not involved in the creation of the content above.More from Deloitte →